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, but apparently we are going to cover it. >> before we get to that, the government of hollande is about to present it first budget. its expected to whicheverdelives of tax hikes. meantime european policymakers are appraising spain's reform plan. but today the government must brace for the results of the banking stress tests that will determine the recapitalization needs of the country's most troubled lenders. we have steve sedgwick following the story in thmadrid, but firs out to stefane in paris. it sounds like there will be a contrast with the spanish budget. it's tax hikes that seem to be the focus. >> in france it will be focus on tax hikes. that's the decision about to be announced by the french government. basically 20 billion euros in additional taxes in the budget for the next year. and only 10 billion euros in spending cuts. that's the plan to reach the deficit target. that's the best case scenario because the budget is based on a growth assumption of 0.8% which seems to be far too optimistic. plenty of private economists believe the french economy won't grow more than 0.3% next year. in
grows at its fastest rate in seven months, while the government gets set to take another swing at boosting it through foreign investments. thanks very much for joining me. anyone that's missing ross, he'll be back in tomorrow. but for now, you're all mine. . plenty to come on the next couple hours of the show. lots of guests to help us figure out what's going on. we'll get a view from sydney about cautious shoppers. borrowing costs are expected to fall. we'll bring you those results from madrid. and we'll head out to malaysia for an exclusive interview with the country's prime minister. >>> it's very presidential music to bringis to this topic, which is really dominating the headlines today. president obama and republican rival mitt romney met face to face last night in denver, colorado for their first u.s. presidential debate. it really focused mostly on the economy. with a mnt to onth to go before election, both men had to prove to voters that they're the right man for the country. john harwood got a firsthand view of the debate and filed this report from denver. >> the first
they need nearly 60 billion euros more to expand the shock. the same time, the spanish government has said that the extra aid would push its budget deficit 7.4% of gdp in 2012, which is above the eu's target. so i don't know how she moves around so quickly from place to place, but from athens to madrid, here is julia. >> thanks very much, ross. you just have to bear with me if i make another freudian slip on greece versus spain. but right now, what we heard from the government over the weekend was that their deficit will be on target at 6.3%. but if you include the bank aid as you mentioned, 7.4%. they did make great pains to point out that european commission officials have not asked them to make any adjustments to reduce that number, but the question has to be asked what happens if they don't meet the deficit target of 6.3%. many analysts are expecting them to come in around 7% in terms of the target for this year. day take last week actually showed that the central government deficit came in just around 4.3% up to august. how, the full year target is 4.5% and then we're not even bringin
, and it will bei be not much else other than more government spending. and that won't make the difference. so i think fiscal uncertainty has to be removed in order for the corporates to spend the huge amount of cash that they're holding. and at this point not investing. the fiscal -- i don't want to call it the fiscal cliff because that's not so important. the question is getting certainty into the situation for corporates to invest again. >> okay, good to have you on on. plenty more to come from you. but what do you think the jobs number will be? let us know. e-mail or tweet us. so just over an hour into the trading day here in europe. let's show you where we stand. just weighted to the up side. pretty flat day for european stocks. 6:4 advancers currently outpacing decliners. we are a quarter percent higher on the ibex, as well. let's show you where we stand. yields are still below 6%. 5.8% mar begin alley higher. we'll keep our eyes on u.s. yields. we got down to 1.66 is where we stand at the moment on those u.s. ten years, as well. as far as currency markets are concerned, euro-dollar just h
. this as the spanish government is apparently ready to ask for a full bailout, but is being told to wait by germany. angela merkel is reluctant to put more aid requests in front of her parliament, both sides have denied that story. but it does come just a day after meeting between the eu and sm spanish economics minister. julia is in madrid with her own thoughts on this. you heard jim says it's only a matter of time really, so we just have to work out when. >>> that's certainly what the markets expect. also the message is that it's really difficult for the germans to say, hey, these three separate times on greece, cypress and perhaps on spain particularly after they've just received the banking bailout. the biggest shift seem to be in perhaps the spanish sentiment in this article that they're ready to ask as early as this week. so critical to him. they have to think of a bailout and also the enhanced credit line. it doesn't really make a distinction between the two. but of course the budget that we got at the end of last week suggested that they were laying the foundations of course for aid and of
services sector. >>> and more signs of trouble for the spanish government as the latest figures show its corporate tax revenue has tumbled. mariano rajoy issues the latest denial that he's ready for a bailout. >>> we now have the latest numbers crossing for the eurozone services pmi. the september final services read coming in at 46.1. an improvement that we have seen from the 46 number. this is still the lowest level we're seeing since 2009. the forward indication 49.4. in terms of what we're seeing on the final comp sit pmi, this is above the 45.9 read that we have, but just a fraction below what we saw in august, the rate was 46.3 then. this is the lowest read since may 2009. in terms of new business number for the composite september rate, 43.8. we're still right back at some of these 2009 lows. >>> elsewhere, the numbers are not that much better. lisa has more on these numbers out of china. >> official data showed china services sector fell sharply in september to its lowest level in almost two years. it shows the rest of the economy has started to feel the effect from the sluggish
Search Results 0 to 5 of about 6